Jason Punzel and Brad Goodsell of Senior Living Investment Brokerage helped a local operator in Rathdrum, Idaho (in the state’s panhandle) sell their only seniors housing asset. Despite its rural location, the assisted living community operated well. Built in 2005 with expansions in 2007 and 2013, it operated at over a 35% margin on approximately $2.2 million of revenues, and occupancy reached 98%. However, its remote location certainly did not push up the price, as the community sold for $8 million, or a below-average $166,700 per unit.
To put it in perspective, the national average price for assisted living, according to the 2017 Senior Care Acquisition Report, is $193,650 per unit. An investment group based in northern California was the buyer and leased the property to Senior Services of America, which is headquartered in Tacoma, Washington and operates throughout the country.
